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There will be fewer members and all members will pay the lower cost. (allocation of representation, election/appointment of agents, reporting requirements, mix of brokers v. representatives, shift from former models, etc) The board of directors is comprised of 5 to six appointees from each combining company and two appointees from the state association.

( organization structure, ownership interests, allotment procedure, legal problems, etc) The state association was needed to give approval for CT-MLS to liquify. Smart, MLS can not alter the requirement for real estate agent subscription without the approval of the Class B regional associations. All regional associations working as MLS service centers agreed to a transition to stop getting yearly service charges.

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Staffing Throughout the process of preparing the merger, Michael Barbaro did not enable any discussions about: Who would be the CEO of the new company; what would occur to personnel; what structure would endure; and the name of brand-new organization. The group focused on the merger and all stakeholders were guaranteed there would be a procedure in location to make those decisions at the correct time

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Hosted some "get together" occasions to integrate 2 staffs. Open and sincere communication to personnel was necessary. Both staffs are supporting a brand-new phone system that links both places. (to  This Article Is More In-Depth , to brokers, to agents, to consumers) Conferences were held throughout the marketplace area. Regular channels of communication were preserved.

Keep in mind: Three smaller sized MLSs are still running in the state, which are owned by local boards of REALTORS. The other MLSs do not use the very same MLS software platform and any conversations would have extended the timeline and complexity for the merger. The Majority Of Prized possession Advantage One single database for many Connecticut properties and the resulting precise statistics.

All members will get some type of advantage, e. g. access to more info, lower fees and enhanced data quality. It was time. Consolidation was always a subject of discussion for the subscription. The companies have lastly made it happen. Michael Barbaro's role in the whole procedure was extremely applauded.

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Lessons Discovered Concentrate on the goal of supplying the very best possible services for members and do not get distracted by the pieces of the puzzle that can eliminate merger discussions and can be dealt with later. The procedure can take place really rapidly, if you set the timeline that method. Concentrate efforts on the benefits and favorable results.